Hydrogen needs strong carbon price

Global carbon trading schemes need higher prices to incentivise hydrogen projects, says panel

A strong carbon price is needed to incentivise a switch to hydrogen in many countries, according to a senior executive at a leading green hydrogen developer. Only the EU currently has a strong price for carbon, where it is trading at more than €80/t CO₂ ($90/t CO₂). The US and China have regional emissions trading schemes, but prices remain too low to incentivise hydrogen projects. “In some markets you are going to need carbon taxes because companies are not motivated only by decarbonisation and helping with climate change,” said Alicia Eastman, president of Hong Kong-based Intercontinental Energy, at the Asia-Pacific Hydrogen Summit on Wednesday. “You will need to see some kind of carbon ta